During a parliamentary hosting.. Al-Alaq: The rise in the price of the dollar was caused by some traders who were afraid of the electronic platform
During a parliamentary hosting.. Al-Alaq: The rise in the price of the dollar was caused by some traders who were afraid of the electronic platform
2023-02-22 05:05
Shafaq News/ The Governor of the Central Bank of Iraq, Ali Al-Alaq, confirmed on Wednesday that the electronic platform for selling the dollar will contribute to limiting the rise in its price in the parallel market, indicating that the current rise is caused by some merchants evading the electronic system and resorting to the market to buy the dollar.
A member of the Parliamentary Economy Committee, Yasser Al-Husseini, told Shafaq News agency, that his committee hosted today the Governor of the Central Bank, Ali Al-Alaq, to discuss a number of important axes, most notably “what are the negatives and positives of the new electronic system approved by the bank’s management and the extent of its impact on the exchange rate of the parallel dollar, the market and life Economic”.
And he indicated that “according to the words of the governor of the central bank, there are minor effects, but there are positive benefits that will contribute to the stability of the exchange rate and the prices of foodstuffs and consumer goods in the market.”
“The hosting discussed controlling ports, taxes and customs to raise the state’s financial revenue, reduce smuggling of the dollar and not affect foreign trade,” he added.
Al-Husseini indicated that “the bank’s governor stressed that proceeding with the procedures will contribute to a decrease in the exchange rate of the parallel dollar, and the need to adopt the official rate only in commercial transactions.”
And the governor of the bank, according to Al-Husseini, stated that “some merchants are trying to escape from the electronic system and resort to the market to buy dollars, which causes an increase in the exchange rate of the dollar.”
Al-Husseini explained, “The governor of the Central Bank confirmed that approximately 25% of merchants relied on the system and the electronic platform to buy the dollar, but the rest are among those wary and afraid of entering the electronic system, and that the new electronic system limits the smuggling of the dollar abroad and contributes to the stability of the exchange rate.” dollar in the market.
shafaq.com
